Business & Accounting
Chart of Accounts
Definition
A complete list of every account used to record financial transactions in a business, organized by category. The five main account types are Assets, Liabilities, Equity, Revenue, and Expenses. Each account has a unique number (e.g., 1000-1999 for Assets, 5000-5999 for Expenses) and a descriptive name. A well-organized chart of accounts is the foundation of any bookkeeping system. For small businesses using Google Sheets, the chart of accounts typically appears as a reference tab that feeds dropdown menus and categorization formulas throughout the workbook.
Related Templates
These SheetCraft templates use or relate to Chart of Accounts:
- Small Business Bookkeeping System, Simple bookkeeping for small business owners who don't have an accountant, income, expenses, P&L, sales tax, and bank reconciliation.